In 2022-23, India’s LPG consumption was 28.5 million tons (MT) and production was 12.8 MT. At over 41.1 percent, LPG imports accounted for the largest share of petroleum product imports in 2022-23. Domestic LPG consumption accounted for over 89 percent of total consumption. The adoption of LPG by low-income households …
Unable to cope fully with steadily climbing world oil prices since mid-2009, many of the 65 countries reviewed in this paper have progressed slowly or even reversed course in reforming pricing of petroleum products. End-user prices in July 2012 varied by two orders of magnitude across the countries. More than …
GUWAHATI: The Opposition parties on Monday criticized the 2013–14 State budget presented by Chief Minister Tarun Gogoi in the Assembly and slammed it as ‘anti–people’. Reacting to the budget, Asom Gana Parishad (AGP) president Prafulla Kumar Mahanta said, “It seems that the budget presented by the Chief Minister in the …
After failing to get the Oil and Gas Regulatory Authority (Ogra) do its bidding, the Petroleum Ministry has approached the Economic Coordination Committee (ECC) to close down the CNG stations in the country that have completed their mandated 15 years. In its pursuit of phasing out the use of CNG …
Oil-marketing companies (OMCs) have decided to increase petrol prices by Rs 1.40 per litre with effect from Friday midnight. With this, petrol price in Delhi would be Rs 70.46 a litre now. The last price hike was on February 16. Between then and now, international petrol prices rose from $128.57 …
The Economic Survey has said that the proportion of liquefied petroleum gas (LPG) subsidies that goes to the poor, in both rural and urban areas, was low. This finding is bound to provide fuel to the debate on whether the rich should continue to be supplied cooking gas at subsidised …
The Supreme Court on Monday dismissed a petition seeking quashing of a government pricing policy that allegedly gives cheaper natural gas to industry as compared to domestic consumers. A bench headed by Justice Aftab Alam dismissed the plea of Manohar Lal Sharma, a lawyer who had presented his own calculation …
Banking on the phased deregulation of diesel pricing, the government proposes to cap subsidy on this fuel at R6 per litre in 2013-14 to insulate itself from volatility in global crude oil prices which could potentially upset its fiscal math. The average under-recovery on diesel this fiscal is estimated to …
The Nobel laureate says neglecting children is not only unjust but also an economic blunder Nobel laureate Amartya Sen said the National Food Security Bill needs to be strengthened to include children’s entitlements. According to him, the Bill, in the current form, neglects children. He pointed out that there are …
State-owned gas firm GAIL (India) Ltd and US arm of France’s EDF group have placed a joint bid to acquire some of Spanish energy company Repsol SA’s LNG assets in Trinidad and Tobago. ‘‘We have placed a non-binding bid,’’ GAIL Chairman and Managing Director BC Tripathi told reporters here. Repsol …
Fuel prices are back on the boil. Oil marketing companies on Friday increased petrol price by Rs.1.50 a litre and diesel by 45 paise a litre. This is the second straight month where oil marketing firms have raised diesel price to bring down the under-recovery. The government has allowed them …
The government will pay Rs 25,000 crore additional cash subsidy to state-owned fuel retailers to make up for part of the revenue they lost on selling auto and cooking fuel below cost this fiscal. The Finance Ministry on February 7 issued a "comfort letter" to Indian Oil Corp (IOC), Bharat …
New Delhi: It will take at least another 28 months before the under-recoveries on account of sale of diesel can be eliminated. Addressing the India Energy Congress on Thursday, Planning Commission deputy chairman Montek Singh Ahluwalia said: “Diesel is on a progressive elimination of subsidies and by mid-2015, present under …
New Delhi: Fearing oil refineries will be hit hard by the Finance Ministry's move to change the way petrol and diesel are priced, Oil Minister M Veerappa Moily has asked Prime Minister Manmohan Singh to constitute an expert committee to decide on the issue. The Finance Ministry has informed the …
Asian Development Bank (ADB) today cautioned that worsening global financial situation will have severe consequences for emerging economies like India and China. "This global slump (in US, Euro area and Japan) will have a serious slump on the region's major economies, particularly on India and China" ADB President Haruhiko Kuroda …
The report indicates that two-thirds of Indian families, or 166 million households, still use solid fuel traditional stoves and will continue to do so over the next decade, leading to 875,000 premature and avoidable deaths annually from indoor air pollution. It also notes that more widespread uptake of clean cookstoves …
With an eye on bigger imports, the oil marketing firm may get its French partner Total to set it up State-run oil marketing firm Hindustan Petroleum Corp Ltd (HPCL) is planning to invest Rs 600-700 crore to set up its second underground liquefied petroleum gas (LPG) storage facility in Mangalore. …
The government’s decision to cap the number of subsidised LPG (liquefied natural gas) cylinders seems to have brought cheer to oil companies as their auto gas segment has registered significant growth since last September. IndianOil Corp Ltd, for instance, saw a growth of around 22 per cent in volumes and …
Ever since the ban on Iranian oil imports by European Union nations came into effect in February 2012, Indians oil companies have gradually reduced their dependence on oil from the West Asian country and put in place alternative arrangements. India aims to cut Iranian oil imports by around 15% every …
The Delhi Cabinet on Monday decided to increase the number of subsidised LPG cylinders for the beneficiaries of the kerosene-free scheme from nine to twelve in a financial year. At the meeting chaired by Chief Minister Sheila Dikshit, it was stated that since the Centre has decided to increase the …
New Delhi: Free-market diesel price in 24 mths; only LPG, kerosene to get subsidy The UPA government is going the whole hog on its plan to move towards fully market-determined pricing of diesel, which accounts for 60% of this year’s estimated fuel subsidy bill of R1.7 lakh crore. “In 24 …
